Shares in Mitsubishi Motors fall

<p>The share price of Mitsubishi Motors is down today.</p>

The share price of Mitsubishi Motors dropped today (September 12th) on the back of the news that the company is planning to offer new stock.

After confirmation the firm is considering selling new stock worth 200 billion yen (£1.3 billion), the share price of the company dropped by eight per cent.

Some reports have claimed that the firm is hoping to raise money in order to be able to buy back the preferred stock it had issued to four Mitsubishi group firms.

However, the fall in its share price today may result in the company reconsidering its plans.

During today's trading on the Tokyo Stock Exchange, the share price of the firm dropped by 8.05 per cent over the course of the session.

Mitsubishi may also be planning to use the money raised through the new share offering to build new factories in locations such as Indonesia and the Philippines, it was claimed.

The company produces cars such as the ASX, the Mirage, the Shogun and the L200.

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